US farmers planted corn and soyabeans in record time last week as they took advantage of the warm, dry weather throughout the US Midwest, Monday's weekly US Agriculture Department planting data showed. That progress puts farmers within striking distance of finishing all their planting tasks this week, particularly since dry weather is forecast to continue for much of the region. Showers are expected in north-western areas of the Corn Belt.
Farmers had planted 96 percent of the corn and 76 percent of the soyabeans as of Sunday. Those paces topped analysts forecasts, which had corn plantings at 95 percent finished, up from 87 percent last week, and soyabean plantings at 68 percent, up from 46 percent a week ago.
USDA also on Monday rated the corn crop 77 percent good to excellent, its first condition rating for this year's crop. Analysts, on average expected 70 percent good to excellent, according to a Reuters poll. Since corn seeding was virtually complete, the USDA will not release another planting update for that crop this year.
An unseasonably warm winter and early spring allowed farmers to get an early start to planting this year, but the pace had slowed during the past month due to rain in areas west of the Mississippi River. Analysts had said that timely planting of corn was key to producing a crop big enough to relieve tight domestic supplies. This year's pace indicates farmers will not suffer any yield loss due to planting delays. Growers typically aim to have most of their corn seeded by mid-May to ensure the plants are mature enough to withstand scorching summer heat in July and August.
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